Stock markets jumped on Monday. The Dow Jones (DJI) gained over 515 points after Apple (AAPL) stock gained 3.94% to close at $262.24. Apple is a Dow component that replaced AT&T (T) in March 2015.
At a $3.891 trillion market capitalization, the firm is all but worth $4 trillion. How did it get there, despite the lack of artificial intelligence in its operating system?
Apple consumers did not care much about Apple Intelligence. Instead, early sales data suggested that iPhone 17 is the best-selling device in several years. Before that, consumers were stuck with iPhone 11 through iPhone 16 which were largely unchanged.
Counterpoint Research reported that the latest phone outsold iPhone 16 by around 33%.
iPhone Air gives consumers the option for a light device. The trade off is having fewer camera lenses that customers may not want anyway. It also has a shorter battery life than the main iPhone. People who want a more powerful device may choose the Pro or Pro Max.
Apple described the top end models as having breakthrough battery life. They are powered by an A17 chip.
Sales in China are also a milestone for Apple. The domestic brand, Huawei, likely failed to take Apple’s market share in the last quarter. Huawei released a version 17 phone that is similar in style. However, that model does not offer the same quality, power, and software ecosystem that Apple is renowned for.
